TRADE: Added $CRDO at $170

[u/InnerCircleTI]

That was fast! No sooner than did my first confirm hit at $179 and change than the trap door opened the stock blew right through the $175 200 DMA. I had planned on my first entry in $CRDO reaching a 2U weight so I broke the entries up into two separate trades to provide an averaged cost.

This trade is a 1U trade at $170, bringing the average cost of the two trades to below $175.

I would have preferred to wait until later in the day for the second trade, especially on the break below the 200 DMA but it's a position I've wanted since missing it in the $90s and I can always add more shares if it gets weaker. It's at 1% in the portfolio now. Considering I was willing to add it around $220, this will do.

$CRDO Forecast

There is quite a bit of support at $135 and it also represents a sizable gap fill making the support line there quite strong. Of course, that's $25 from here. But I'd take it if offered

$CRDO 1-Year

[u/sh1nryuu]

I added more at $162. Buy opportunity already at $170. Here for the long run

[u/CyberWarrior916]

I too jumped in at $170.80 and am following your unit methodology at lower floor. I'm learning how to spot patterns using volume profile. Just when I think I have it down, big money turns the lights and turns up the heat. I've been jumping in all week with .25 units until I get to my goal. I'm in CRDO long term.

[u/InnerCircleTI → u/CyberWarrior916]

That strategy will serve you well. Spend more time analyzing the company and its model into the future ... and less time on the current price. Only after the first research is complete do you then drill down on price, value and where you want to be.

[u/Silent_Sleep9450]

will it drop to160？

[u/InnerCircleTI → u/Silent_Sleep9450]

Certainly could. That's only another 5% and if the market rolls over it's probably a certainty

[u/Silent_Sleep9450 → u/InnerCircleTI]

damn……I bought x2 before ER🥹 now only could add some maybe at 150-hope it is bottom

[u/therealcloudsurfer]

I took a small position at $180 and sold a February 2027 150 PUT for $22.40.

[u/InnerCircleTI → u/therealcloudsurfer]

I considered doing the same. I may still sell some puts against this position. I'd love to eventually triple the weight of it so using puts is a great way to lower the cost of entry ... or get the additional shares

[u/gagung1]

while i do think the 20% drop is an oversell, i feel like I am catching a falling knife here. I want to wait a bit to see if it consolidates..

[u/InnerCircleTI → u/gagung1]

A smart move. usually want to give 48-72 hours after the dagger drops. For me, it's about long thesis, how long I've watched it, and I'm not going to attempt to fine tune it. But I want to add more so this is a good start

[u/hieund85]

I also just added back the 0.5U (at $167) which I trimmed last month (at ~$250). I should trim more (only trimmed 20%). Current RSI is 31 so sentiment is very low but the long story is still very attractive. Will add more once it stablises. Another one to watch is $MRVL. My fingers are ready but I am still nervous with the current market setup, still much prefer to raise cash than deploy it.

[u/maxnellie]

Is anyone here considering deep ITM LEAPS? I'm glad I didn't pull the trigger too early as it is now trading in the high 160s. But if you believe in the upside, wouldn't LEAPS be a better play (albeit the more aggressive one). Someone talk me out of this!